Cyber attacks 'cost UK economy billions each year'

Speaking on the launch of a new security cell to combat cyber attacks, he said the government intends to make Britain one of the safest places to do business in cyberspace.

Cabinet Office Minister Francis Maude Credit: Anthony Devlin/PA Wire

Mr Maude said: "We know that cyber attacks are happening on an industrial scale and businesses are by far the biggest victims of cyber crime in terms of industrial espionage and intellectual property theft."